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Industry Representative Puts Fire Insurance Availability at Feet of Commissioner
News – Insurance Journal Dec 6, 2019 | 17:12 pmCalifornia Insurance Commissioner Ricardo Lara will have to choose whether he wants insurers to charge higher rates or to stop writing homeowners insurance in fire-prone areas, an industry representative said following new wildfire directives announced by the commissioner. Lara on[…]
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Former Georgia Mayor Pleads Guilty to 30 Counts of Insurance Fraud
News – Insurance Journal Dec 6, 2019 | 12:51 pmA former Georgia mayor pleaded guilty Tuesday to 30 counts of insurance fraud after stealing over $11,000 from victims who believed they were paying for insurance policies. Former Franklin Mayor Brad Yates, in a negotiated plea deal, was sentenced to[…]
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Woman Sues North Carolina Nursing School for Harassment in ‘Time’s Up’ Case
News – Insurance Journal Dec 6, 2019 | 12:43 pmA woman who says she was kicked out of a North Carolina nursing school a month before graduation in retaliation for accusing a supervisor of sexual harassment is suing in a case supported by the Time’s Up movement legal fund.[…]
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Texas Woman, Man Convicted of Workers’ Comp Fraud in Separate Cases
News – Insurance Journal Dec 6, 2019 | 12:33 pmTexas Mutual Insurance Co. reported that two Texans have been convicted of workers’ compensation fraud in two separate cases. The workers’ compensation insurer said Sharon Boachie of Arlington and Larry Toliver of Knox City were sentenced in Travis County district[…]
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Texas City Again Issues Voluntary Evacuation Order over Chemical Plant Blast
News – Insurance Journal Dec 6, 2019 | 12:01 pmConcerns over air quality have prompted a voluntary evacuation order that was in effect on Dec. 5 for a Texas Gulf Coast city where a pair of chemical plant explosions occurred last week. Port Neches issued the voluntary order for[…]
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Fitch Sees Stronger Commercial Lines But Weaker Auto, Work Comp Results Coming
News – Insurance Journal Dec 6, 2019 | 09:59 amThe U.S. property/casualty insurance sector should see small improvements in underwriting profits in 2019 and 2020, thanks largely to commercial lines price increases, Fitch Ratings predicts in a new report. But personal auto and workers’ compensation will be two lines[…]
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Officials Say Regulation Standards Factor in Alaska Quake Damage
News – Insurance Journal Dec 6, 2019 | 09:50 amAssessments following Alaska’s enormous 2018 earthquake showed building damage was worse outside Anchorage’s safety area because of reduced regulation, municipal officials said. There was less structural damage in the Anchorage Building Safety Service Area than in the Chugiak-Eagle River area[…]
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Connecticut’s Saxe Doernberger & Vita Hires Clifford to Northeast Office
News – Insurance Journal Dec 6, 2019 | 09:45 amSaxe Doernberger & Vita P.C. (SDV) has hired Associate Brian J. Clifford to its Northeast office. Clifford has almost a decade of experience in litigation, including insurance coverage, from depositions and discovery through mediations, trials and appeals. He has represented[…]
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Delaware Loses Bid for High Court Review of Opioid Suit Ruling
News – Insurance Journal Dec 6, 2019 | 09:37 amA judge who dismissed Walgreens as a defendant in Delaware’s lawsuit against the drug industry over the opioid crisis has denied the government’s request to certify an appeal to Delaware’s Supreme Court. Wednesday’s ruling follows the judge’s denial in September[…]
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Massachusetts Prosecutors Seek Prison Sentence for Drain Company Owner
News – Insurance Journal Dec 6, 2019 | 09:31 amMassachusetts prosecutors asked a judge to sentence a drain company owner to seven to 10 years in prison for his involvement in the collapse and flooding of a trench that killed two workers. Atlantic Drain Service owner Kevin Lee Otto,[…]
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AmTrust Promotes CFO Karkowsky to President
News – Insurance Journal Dec 6, 2019 | 09:11 amAmTrust Financial Services has promoted Adam Karkowsky to the role of president of AmTrust, reporting to Barry Zyskind, chairman and chief executive officer. The company said Karkowsky will continue to also serve in the role of chief financial officer of[…]
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Trials Over Bayer’s Roundup Weedkiller Delayed for Mediation Talks
News – Insurance Journal Dec 6, 2019 | 08:30 amBayer AG agreed to postpone two upcoming U.S. trials involving its Roundup weedkiller to allow time for mediation talks on a possible settlement with plaintiffs. The German agriculture giant agreed to delay two trials that were set to begin in[…]
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Political Risk Losses Up in 2019, Hitting 68% of Surveyed Firms: WTW
News – Insurance Journal Dec 6, 2019 | 07:47 amA survey of 41 major corporations by broker Willis Towers Watson found that 61% believe political risk levels increased in 2019 while 68% have actually suffered a political risk loss. Disruption of international trade was considered the most significant risk[…]
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U.K. Investment Firm Centricus Forms Insurance Venture with Ex-Goldman Partner
News – Insurance Journal Dec 6, 2019 | 05:28 amCentricus, the U.K. investment firm that helped SoftBank Group Corp. raise its $100 billion Vision Fund, is entering the insurance industry by forming a joint venture with former Goldman Sachs Group Inc. partner Chris Milner. The new venture with Milner’s[…]
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Pirates Hijack Fully Loaded Supertanker Off Nigeria, Kidnapping 19 Crew
News – Insurance Journal Dec 6, 2019 | 05:07 amPirates boarded a fully loaded supertanker off the coast of Nigeria, an act that is sure to ring alarm bells for insurers about the risk of collecting oil from Africa’s biggest producer. Nineteen crew were kidnapped and remain missing, a[…]
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Gallagher Names Partington CEO of Canadian Brokerage Operations
News – Insurance Journal Dec 6, 2019 | 03:00 amGallagher, the Rolling Meadows, Ill.-based insurance broker, has named Dave Partington as CEO of its Canadian retail property/casualty brokerage operations, where he will lead the strategy and culture for continued growth across the country. Partington joined Gallagher in 2012, initially[…]
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Swiss Re to Sell U.K. Insurer ReAssure to Phoenix Group for $4.3B in Cash, Shares
News – Insurance Journal Dec 6, 2019 | 02:50 amSwiss Re announced an agreement to sell its U.K. life subsidiary ReAssure Group plc to Phoenix Group Holdings plc. As part of the agreement, which values ReAssure at £3.25 billion ($4.3 billion), Swiss Re will receive a cash payment of[…]
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Minnesota AG Sues E-Cigarette Maker Juul over Rise in Youth Vaping
News – Insurance Journal Dec 6, 2019 | 02:10 amMinnesota Attorney General Keith Ellison has sued Juul Labs, accusing the e-cigarette maker of unlawfully targeting young people with its products to get a new generation addicted to nicotine. The lawsuit filed in Hennepin County District Court in Minneapolis seeks[…]
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Crawford & Co. Appoints Westling as VP, U.S. Catastrophe Operations in Dallas
News – Insurance Journal Dec 6, 2019 | 02:02 amClaims services provider Crawford & Company has appointed Maureen Westling vice president of U.S. Catastrophe Services Operations. She is based in Dallas. In the newly created role, Westling will be responsible for the strategic and tactical direction, as well as[…]
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NTSB: Poor Training Led to Deadly 2017 Explosion at Minneapolis School
News – Insurance Journal Dec 6, 2019 | 01:47 amFederal investigators have concluded that a deadly explosion at a Minneapolis school in 2017 happened because a pipefitting crew lacked proper training and wasn’t fully authorized to move a gas meter. The National Transportation Safety Board released its report Dec.[…]
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